Nucor lifts tubular prices $150/st

Nucor Tubular Products is lifting its non-energy tube base prices by a hefty $150/short ton, Kallanish learns from a company letter. 

The increase covers hollow structural sections, pipe, mechanical tube and piling products. It is effective immediately.

“This increase is a result of rising raw material costs, strong demand, and volatility of transportation costs,” Nucor says. 

Extant orders will be price-protected through 19 February. The increase applies to all non-confirmed spot orders, quotes and contracts. 

Skelp prices are at an all-time high in the US, with at least some buyers paying $1,200/st for hot-rolled coil. The meteoric rise since November has been tied to a combination of robust contract demand, high global raw material prices, and limited supply stemming from Covid-19 shutdowns.